Indian Casino ditch investors to expand on their own
It’s been a tough time for casinos across the world with some of the leading gambling halls suffering the plight of the weak economic climate. Revenues have dropped by 7% to $30 billion in 12 American states including the gambling Mecca that is Nevada.
Indeed, many casinos have had to close parts of their businesses, such as the famous Binion’s Casino; however, those casinos built upon the many Native Indian reservations have continued to see a growth in their profits. Although the 1.5 increase is the smallest annual increase since the gambling halls were granted gambling licenses in 1988 the fact remains they’ve seen a profit. The positive results have encouraged one of the Indian Tribes, the Mashpee Wampanoag, to ditch their South African investors and push ahead with their own expansion ideas. Tribal council chairman Cedric Cromwell commented: "We're building based on the economic time.
We're making sure that every penny is being spent wisely. We're in the driver's seat because we have all these experiences to learn from and we're going to build accordingly." The tribe look set to join the Genting Group and mount a major push for the Middleboro Casino and Malaysian based casino giant.
If successful it could hail a new era in the Native American Indian’s future and further establish them as one of the leading business operators in the gambling industry.